Skip to content
Subscriber Only

Brevan Said to Shut Emerging Markets Fund After Losses

Geraldine Sundstrom is leaving Brevan Howard Capital Management LP and the firm is shutting her hedge fund after it lost money amid a rout in emerging markets, according to a person with direct knowledge of the decision.

Sundstrom’s Brevan Howard Emerging Markets Strategies Master Fund declined 15 percent last year after a sell off for bonds and currencies, said the person, who asked not to be identified because the matter is private. Her fund, which had $2.7 billion in assets as of last June, fell another 1.6 percent in January after investor concerns that emerging markets would continue to decline, the person said.